Javier Paulinich, the permanent secretary of the Latin American and Caribbean Economic System, speaks at a conference for economic cooperation among its member states at Seoul, Thursday. Courtesy of Embassy of Peru in Seoul

By Jung Min-ho

Korea is an important partner in Latin America's efforts to develop the regional economy and improve people's lives, Javier Paulinich, the permanent secretary of the Latin American and Caribbean Economic System (SELA), said Thursday.

At a conference for economic cooperation among SELA's 26 member states in central Seoul, Paulinich said Korea has much to offer them.

"One of our key agendas is to help small businesses as they employ most workers," he said through an interpreter. "Given that the Korean government has been making efforts for the same goal here, its policy knowhow can be very useful."

SELA ― established on Oct. 17, 1975, as a result of the Panama Convention ― aims to develop the regional economy through cooperation and freer trade among members.

"Ultimately, we would like to improve the lives of workers," Paulinich said. "To do so, we need to help private companies, especially small businesses, many of whom do not survive long. Companies need to improve their competitiveness and economic stability. I believe South Korean companies can do much to help them."

Many Korean firms have globally competitive technologies in their fields and push into Latin America's markets, thus there are many areas in which the companies and SELA can work together, Ruben Eloy Arosemena Valdes, the Panama Ambassador to Seoul, said.

Central and South American ambassadors to Seoul ― from Chile, Colombia, El Salvador, Guatemala, Honduras, Mexico, Nicaragua and Panama ― and many other dignitaries participated in the conference to discuss issues challenging their common objectives.